a strong foundation - Maryland Institute College of Art
a strong foundation - Maryland Institute College of Art
a strong foundation - Maryland Institute College of Art
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“<br />
It’s amazing what MICA has been able to achieve, given the<br />
size <strong>of</strong> our endowment. We are acknowledged to stand in<br />
the company <strong>of</strong> the top three or four colleges <strong>of</strong> art in the<br />
nation.We’ve never had a lot <strong>of</strong> extra money to spend, but<br />
we’ve managed it well.We’ve had excellent and loyal faculty<br />
who are revered by wonderful students.<br />
We’ve reached a point where our endowment needs to grow<br />
to sustain the momentum that’s taken us so far. Income from<br />
endowment will never pay faculty<br />
I HAVE ALWAYS FELT THAT IF YOU HAVE AN INSTITUTION OF THAT<br />
salaries or keep the lights burning<br />
CALIBER IN YOUR CITY—AND HERE WAS THIS WONDERFUL GEM<br />
from month to month. But having<br />
IN THE MIDDLE OF BALTIMORE—IT’S IMPORTANT TO SUPPORT IT.<br />
an adequate endowment is the thing<br />
that keeps an institution from having to raise tuition to<br />
extraordinary levels in order to sustain the quality <strong>of</strong> its program.<br />
We are already a very tuition-dependent institution,<br />
and it’s difficult for many families to afford a MICA education<br />
at current tuition levels.<br />
More than 30 years ago, when I was first asked to go on the<br />
MICA Board, I remember Bobby Merrick told me, “You<br />
may not know it, but this is one <strong>of</strong> the few institutions in the<br />
City <strong>of</strong> Baltimore that’s truly nationally prominent in its<br />
field.” <strong>Maryland</strong> <strong>Institute</strong> <strong>College</strong> <strong>of</strong> <strong>Art</strong> was already providing<br />
one <strong>of</strong> the best opportunities for young artists to get a<br />
great education in the whole United States. I kind <strong>of</strong> liked<br />
that. I have always felt that if you have an institution <strong>of</strong> that<br />
caliber in your city—and here was this wonderful gem in<br />
the middle <strong>of</strong> Baltimore—it’s important to support it.<br />
Many <strong>of</strong> us who love MICA give every year to the Annual<br />
Fund. And we each feel that our gift is important. I think<br />
about endowment as a way <strong>of</strong> making sure my annual gift<br />
keeps coming in even when I’m not here anymore to give<br />
it. The institution itself will keep going, and the need will<br />
continue, so I see giving to endowment as a way to keep my<br />
usual annual gift going in perpetuity. And that appeals to me.<br />
M I C A ’ 0 5 > 7
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